One of the most important things you can do is come in with your best offer and DO NOT HESITATE…and here’s why!
We have one of those markets. Actually, we have a couple. One of the hottest markets we’ve seen in our area is the Niceville, FL market. That market has been a strong seller’s market for well over eighteen months now.
My business partner and I had a listing in a community in Rocky Bayou. As soon as we released it on the market, we had a contract in six days. We were thrilled. All the inspections were done and we were headed to closing.
Unfortunately the buyers had to back out due to circumstances beyond their control. We understood that. So we went back on the market, and started getting lots of activity. We were told about a week ago that we were going to get an offer from these buyers who had looked at it a couple of times. Well, something scared them off and they needed to think about it.
Moving and relocating can be very overwhelming, and you’ve got a lot going on.
You’re changing jobs, you’re moving your family, you’re getting your children settled into schools.
I think these buyers just felt like they needed to take a moment to breathe. So they did. They waited one week and guess what happened? The same day they decided to come and put in an offer, we had another offer.
What happened? Unfortunately, because of the hesitation, the other offer was a bit stronger and that was the offer that the sellers went with. These buyers, because they hesitated one week, they lost out on the home that they had decided to move forward on.
When you’re in a hot market, things are moving quickly. You need to know the days-on-market, and when there are multiple offers (I did make sure that all parties knew that there were multiple offers).
You need to make sure that you’re comfortable with it, and move forward. Don’t hesitate in a hot, hot market. It just might not be there when you decide to make that decision.
It’s not like a buyer’s market, where things can be sitting there and you have time to really think about it.
If you know what you’re looking for, and you’re feeling good in that home, and you just feel like everything is right about it, move on it.
